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- Dev's Capital A/C ....Dr. 4,000Rihan's Capital A/C...Dr. 10,000 To Cash/Bank A/C 14,000 (Being premium withdrawn by the sacrificing partners)
- Assuming goodwill is withdrawn by Dev and Rihan.
- Stock A/C...Dr. 35,000 To Premium for Goodwill 35,000 (Being assets brought by Mia)
- Assuming goodwill is brought by Mia in Kind. (Stock of Rs.35,000) [1]
- Assuming goodwill is brought by Mia in Kind. (Stock of Rs.40,000) [2]
- Premium for Goodwill A/C...Dr. 35,000 To Dev's Capital A/C 10,000 To Rihan's Capital A/C 25,000 (Being premium transferred to sacrificing partners)
- A's Current A/C...Dr. 14,000 To Dev's Capital A/C 4,000 To Rihan's Capital A/C 10,000 (Being goodwill adjusted)
- Assuming no goodwill is brought by Mia. (Mia's goodwill=Rs.14,000)
- Assuming goodwill is withdrawn by Dev and Rihan partly.
- Dev's Capital A/C ....Dr. 2000Rihan's Capital A/C...Dr. 5,000 To Cash/Bank A/C 10,000(Being premium withdrawn by the sacrificing partners)
- The End.
- All the entries have been passed.
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